Invesco Dividend Achievers ETF (NASDAQ:PFM) Hits New 52-Week High – Should You Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $55.22 and last traded at $55.20, with a volume of 7489 shares trading hands. The stock had previously closed at $54.97.

Invesco Dividend Achievers ETF Price Performance

The firm’s 50 day moving average is $52.95 and its 200 day moving average is $52.56. The company has a market cap of $779.69 million, a PE ratio of 23.20 and a beta of 0.78.

Invesco Dividend Achievers ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were issued a $0.1949 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, March 23rd. This is a positive change from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.18.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PFM. Raymond James Financial Inc. increased its stake in shares of Invesco Dividend Achievers ETF by 0.4% in the second quarter. Raymond James Financial Inc. now owns 846,279 shares of the company’s stock worth $40,765,000 after buying an additional 3,596 shares during the period. IHT Wealth Management LLC increased its stake in shares of Invesco Dividend Achievers ETF by 13.7% in the second quarter. IHT Wealth Management LLC now owns 8,754 shares of the company’s stock worth $422,000 after buying an additional 1,052 shares during the period. MML Investors Services LLC increased its stake in shares of Invesco Dividend Achievers ETF by 3.0% in the second quarter. MML Investors Services LLC now owns 66,062 shares of the company’s stock worth $3,182,000 after buying an additional 1,943 shares during the period. Advisory Services Network LLC increased its stake in shares of Invesco Dividend Achievers ETF by 5.1% in the second quarter. Advisory Services Network LLC now owns 12,373 shares of the company’s stock worth $599,000 after buying an additional 597 shares during the period. Finally, Sovran Advisors LLC increased its stake in shares of Invesco Dividend Achievers ETF by 10.4% in the third quarter. Sovran Advisors LLC now owns 5,245 shares of the company’s stock worth $267,000 after buying an additional 496 shares during the period.

About Invesco Dividend Achievers ETF

PowerShares Dividend Achievers Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Broad Dividend Achievers Index (the Index). The Index is designed to identify a diversified group of dividend paying companies. These companies have increased their annual dividend for 10 or more consecutive fiscal years. The portfolio is rebalanced quarterly and reconstituted annually. The Fund will normally invest at least 90% of its total assets in dividend paying common stocks that comprise Index.